Comments on: Heading for Disappointment at Age 30?

By: Anonymous

Anonymous — Fri, 03 Nov 2006 20:56:00 +0000

2 million is at good goal to set.

But in order to reach it lay out a good plan.

If you want to make it to 2mil, you may want to increase your retirement contributions from 15% to more like 25%

By: 2million

2million — Tue, 31 Oct 2006 18:56:00 +0000

I think $2M is the perfect goal to shoot for, but I am a little biased.

$2M invested should bring in $100k+/yr – not rich, but enough for a modest middle class lifestyle.

By: One Frugal Girl

One Frugal Girl — Sun, 29 Oct 2006 14:11:00 +0000

I loved the comments this blog entry inspired. $2 million probably won’t be enough to retire on by age 40. Both my husband and I are in agreement about that fact. Although with our mortgages paid off and rental income helping to pay the bills it’s certainly not a shabby goal to aim for. Retirement to me is all about the options. If we reach the $2 million mark I could begin considering alternate careers or as one reader mentioned working part time.

Although we’re frugal in a million different ways, we recently purchased a vacation home and currently pay two hefty mortgages. I love ‘enough wealth’s’ comment about finding a job I love right NOW, but with our current mortgage debt I couldn’t afford the cut in salary.

By: Frugal Duchess: Sharon Harvey Rosenberg

Frugal Duchess: Sharon Harvey Rosenberg — Sun, 29 Oct 2006 13:15:00 +0000

Even if 2M is not enough to retire on at 40, maybe in 10 years, you can work part-time and then use the rest of your time to pursue your real life.

I also practice Yoga. It's a great biz move. I think better.

I enjoyed this post and the comments.

By: Lazy Man and Money

Lazy Man and Money — Sun, 29 Oct 2006 02:51:00 +0000

Just to touch on Enough Wealth, I'm not sure that 2M is enough to retire on when you are 60. You'd be surprised what 30 years of inflation does to make things more expensive. I just did some math and with 4% inflation, in 30 years 2M would buy you what $616,637 would buy today. It's possible, but I'm not sure it would give you a comfortable retirement.

I like Trent's idea with breaking up your goals for each year with maybe a really strong examination every 5 years to make sure that things are still on track.

By: enoughwealth@yahoo.com

enoughwealth@yahoo.com — Sat, 28 Oct 2006 15:07:00 +0000

Don’t forget that your life is NOW. It’s OK to dream, but your dream should include what you’re currently doing. What I mean is, there’s no point putting up with a unenjoyable job just so that you can “retire” at 40… You’d be better changing to a more enjoyable job, even if it means not “retiring” until, say, 50.

I could probably retire early, but I won’t unless I suffer ill-health or can’t find a suitable job. I already do the things I’d like to do when I retire, and *mostly* enjoy my work.

Whatever you want to do in “retirement” start doing a bit of it now – you may find that the idea of doing it 24/7 for 50 years in retirement loses its appeal.

ps. $2m is OK to retire on at 60, but I think this would be an insufficient amount to retire on at 40, unless you plan on a VERY modest retirement lifestyle.

Regards
http://enoughwealth.blogspot.com

By: Trent

Trent — Sat, 28 Oct 2006 14:55:00 +0000

I’m 28. My biggest goal in life was to have a happy and healthy child, and my second goal in life is to be able to retire at age 50. I’ve met the first one, and I’ve got a demarcated plan for reaching the second (a goal for each year). Dreams are fine, but I’m convinced that if you want to reach them, you need a plan.